Everything in synthetic fibre markets, especially polyester, has been revolving around crude oil price, and hence the US$. The first signs of policy change in US, expectation of a hike in interest rates, have led to a flight to the US$, supported by other currencies being devalued. And with world powers reaching a

Everything in synthetic fibre markets, especially polyester, has been revolving around crude oil price, and hence the US$. The first signs of policy change in US, expectation of a hike in interest rates, have led to a flight to the US$, supported by other currencies being devalued. And with world powers reaching a framework agreement with Iran to curtail its nuclear program, the stage has been set to end the sanctions that have restrained Iran’s exports.

Asian ethylene markets were on the bullish note in the week ended 23 May as spot supplies tightened amid a lack of regional supply, supporting prices to rise. The markers rose US$12 a ton CFR Northeast Asia while South Korea marker was up US$5 a ton.

Asian ethylene markets were on the bullish note in the week ended 23 May as spot supplies tightened amid a lack of regional supply, supporting prices to rise. The markers rose US$12 a ton CFR Northeast Asia while South Korea marker was up US$5 a ton. Meanwhile European spot ethylene market tracked increase in naphtha values and ended at a six-week high, up Euro12.50 a ton FD NWE on the week. In US, spot ethylene prices recovered US cent 0.75 per pound despite thin trade while the market discussed producers preparing for third-quarter turn around.